Abstract：The exposure on WikiFX about the broker is a red flag. It may be alerting you that the broker is dangerous!
Today I want to talk to you about Grand Signal Markets Limited (GSM), because WikiFX have been receiving an overwhelming amount of Exposure pieces from its victims. Therefore, we are actively evaluating and reviewing this broker and every movement it makes.
One of an investor in the United States complained that I lost a lot of money because of the huge delay on the GSM platform, so I applied for withdrawal, but was advised to deposit the money first and then withdraw the money. After continuing to deposit the money according to their requirements, the withdrawal has not been processed. GSM is a total scam.
To get a better idea of GSM, WikiFX paid a visit to its official website. (https://www.gsmfx.net/). However, the outcome was disappointed - the website is not accessible any longer.
Without access to the official website, we cannot know more about its important information, such as software information and transaction conditions, let alone judge whether their regulations meet the standards of the financial industry. In fact, such a invalid website is further evidence that GSM is running some sort of scam and was fled with investors money!
WikiFX can only use the domain tool to query more information about the GSM. As you can see from the search result, GSM is an UK forex brokerage company that was founded on October 23, 2019.
As a legit brokerage to provide financial products and services in England, it should be licensed by Financial Conduct Authority(FCA). WikiFX certainly need to visit the financial institution check whether it is authorized by the FCA.
Not unexpectedly，there is no information about GSM in the FCA database nor related information with Grand Signal Markets Limited, indicating that it is not regulated by the FCA at all and has no legitimacy to offer financial products and services in the UK.
Actually，before trusting anyone with your money, it would be best to check if they are licensed as they claim. If the firm does not mention a license, it should be avoided, since unregulated companies are very dangerous.
Now let's search “GSM” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.
As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/3481499209.html), Broker GSM has no valid regulatory license and the score is rather negative - only 1.72/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.
In short, its not wise to invest GSM. Not only does it not create its own website, but it does not disclose information, which is fatal to forex broker. It most likely try to hide some bad things and will come up with a new clean identity to continue the scam.。We recommend avoiding brokerage firms like GSM and choosing a legitimate brokerage instead. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!